Honeywell International Inc. Lowers Stake in Bristol-Myers Squibb Company (BMY)
Honeywell International Inc. reduced its position in Bristol-Myers Squibb Company (NYSE:BMY) by 67.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 217,100 shares of the biopharmaceutical company’s stock after selling 440,000 shares during the period. Honeywell International Inc.’s holdings in Bristol-Myers Squibb were worth $12,097,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Welch Investments LLC increased its stake in shares of Bristol-Myers Squibb by 3.9% in the 1st quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the period. Blue Chip Partners Inc. increased its stake in shares of Bristol-Myers Squibb by 0.8% in the 1st quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the period. American National Bank increased its stake in shares of Bristol-Myers Squibb by 11.7% in the 2nd quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 225 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Bristol-Myers Squibb by 29.6% in the 1st quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 504 shares during the period. Finally, V Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at $126,000. 68.84% of the stock is owned by institutional investors.
In other news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $1,006,920. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company (BMY) opened at 65.29 on Monday. Bristol-Myers Squibb Company has a 12-month low of $46.01 and a 12-month high of $66.10. The firm’s 50-day moving average price is $62.78 and its 200 day moving average price is $56.98. The company has a market capitalization of $107.07 billion, a price-to-earnings ratio of 23.85 and a beta of 1.19.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period last year, the business posted $0.69 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.39%. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
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Several equities research analysts have recently commented on BMY shares. BidaskClub raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. Vetr cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 target price for the company. in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Finally, UBS AG reissued a “buy” rating and issued a $72.00 target price (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $63.21.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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